IDGC of Center and Volga might raise 2012 dividends 50%
MOSCOW. May 7 (Interfax) - The board of directors of Nizhny Novgorod-based IDGC Center and Volga has recommended that shareholders vote to pay out 0.425 kopecks per ordinary share in dividends for 2012 at their annual meeting on June 18, which would be a 50% increase over 2011 dividends, the company reported.
The board suggested paying out the dividends in cash no later than 60 days after the decision is made to pay them.
For 2011, IDGC Center and Volga shelled out 0.28 kopecks per share in dividends.
With regards to last year's 1.916 billion rubles in net profit to Russian Accounting Standards (RAS), the board recommended earmarking 478.966 million rubles for dividends and 1.437 billion rubles for development.
The list of shareholders with the right to participate in the annual meeting will be compiled on May 8.
